March 19, 2018 / 1:09 PM / 4 months ago

NRW.Bank tapping Mar 2021 FRN by USD250m, IPTs 3mL+6 area

LONDON, March 19 (IFR) -

* IPTs 3mL+6 area for USD250m no-grow. Pricing Tuesday. Due 5 Mar 2021, pay 27 Mar, off DIP, German law, Lux listing, 1k denoms. (March 19)

NRW.BANK, the explicitly guaranteed development agency of the GERMAN FEDERAL STATE OF NORTH RHINE-WESTPHALIA (NRW), rated Aa1/AA-/AAA/AA+ (all stable) by Moody’s/S&P/Fitch/Dagong, has mandated BARCLAYS, J.P. Morgan, TD Securities and RBC Capital Markets to lead manage an increase of its USD Reg S FRN due 5 March 2021 (ISIN XS1788367735). The transaction will launch in the near future, subject to market conditions. Manufacturer target market (MiFID II product governance) is eligible counterparties, professional and retail (all distribution channels). FCA/ICMA stabilisation. (March 19)

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